CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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Saratoga Investment Corp. (SAR)

BDC - Debt Focused BDC

Data as of Oct. 21, 2021
Market Price $29.04 (- $0.26)
NAV (Aug. 31, 2021) $28.97 ( $0.00)
Premium / Discount 0.24% (-0.90%)
Fund Info
Inception March 23, 2007
Sponsor Saratoga Investment Advisors
Website www.saratogainvestment...
Phone 212-906-7800
Location New York
Incorporated Maryland
Staggered Board No
Objective: Attractive risk-adjusted returns by generating current income from its debt investments and capital appreciation from its equity investments in middle market companies.
Related Indexes
Debt-Focused Business Development Company (BDC) Index
Capital & Leverage
Outstanding Shares 11,364,831
Total Assets (Reported: Aug. 31, 2021) $745M
Estimated Total Assets $713M
Net Assets $329M
Market Cap $330M
Portfolio Turnover 47.34%
Debt-to-Equity 0.7184
Total Leverage 53.80%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 15.34%
Non Lev Exp Ratio 8.74%
Gross Asset Expense Ratio 6.46%
Gross Asset Non Lev Exp Ratio 3.68%
Rel Lev Cost 5.17%
Discount Data
Average Discount (3 Yr) -11.75%
Discount Low(3 Yr) -69.04%
Discount High(3 Yr) 12.06%
Discount Rel Range 85.43%
Comp Discount -4.84
Discount St Dev (1Yr) 8.21
Z-Stat (6mo) 1.51
Z-Stat (1Yr) 1.36
Z-Stat (3Yr) 0.72
Comp Z-Stat (6mo) 0.85
Comp Z-Stat (3Yr) -0.27
Distribution Data
Market Yield 7.16%
Income Yield 7.16%
Lev Adj NAV Yield 4.67%
Av Yield on Debt Investments 8.20
Distribution Frequency Q
Current Distribution $0.520
Current Income $0.520
Ex-Date 9/13/21
Payable Date 9/28/21
Div Growth (3yr) 0.00%
Dividend Change 18.2% on 8/26/21
Expected Div 11/26/21
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (M) $1,285
Avg Volume 30 day 47,543
Avg Volume 90 day 44,264
Volume Trend 7.41%
Comp Volume Trend 9.30%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Correlation (1yr)
vs. CEFA's BDC Index
Most Correlated Peer (Mk Pr): GAIN 68.0%
Price St Dev (1Yr) 26.9%
NAV St Dev (1Yr) 5.6%
Earnings / Share (8/31/21) $0.571
Adj Core NII Coverage 120.36%
1 Yr Avg NII Coverage 86.65%
1 Yr Avg Adj Core NII Coverage 121.51%
NII Trend 2.02%
Adj Core NII Trend 17.11%
Price Beta (2yr)
vs. S&P 500 (TR)
Price Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Beta (2yr)
vs. CEFA's Debt-Focused Business Development Company (BDC) Index
Portfolio Data
Avg Libor Floor % %
% Loans with Libor Floor 0%


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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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